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RE:  Independent Living Community With Real Estate Contact:  John McCleary
Owner Financing is Available!
The owners will finance 30% of the transaction to a qualified buyer.

Quick Facts

Asking Price: $400,000
Annual Revenue: $367,919
Net Profit: Not Disclosed
Cash Flow: $198,204
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: $2,900,000
Year Established: 2010
Employees: 5
BBN Listing #: 307362509
Broker Reference #: Not Disclosed

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Business Overview:

The company was founded by the current owners in 2010 following the completed construction of the first four cottages. The owners had several years of experience working with and caring for seniors prior to founding the company. They realized that many of their patients could remain healthier and independent longer if they only had a place that offered nutritious meals, activities to keep their minds sharp, exercise, socialization, and a maintenance-free house that was not an institution. This realization became the founding thesis of the company.

The owners saw a huge opportunity to open a retirement community after learning how few options were available in town. In addition, the owners, who were born and raised in the locations area, had a deep understanding of the area’s culture and identity and used these principles to guide their business decisions. For example, the owners worked with their chef to devise a menu centered around Texas cuisine. The owners also designed the property and cottages around the existing landscape in order to emphasize the property’s elm trees and contained gardens.

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Property Features and Assets:

Across the property’s 3.5 acres, there are 13 resident cottages. Among these 13 cottages are 5 two-bedroom cottages, 5 large one-bedroom cottages, 2 small one-bedroom cottages, and 1 extra-large one-bedroom cottage. All cottages are full apartments with separate bedrooms, large baths, full kitchens with appliances, laundry facilities and are ADA accessible. Every cottage has a large porch with desirable views of the Texas Hill Country. The clubhouse has a semi-commercial kitchen, dining space for all residents, an activity room, laundry facility, and an efficiency apartment used for on-site staff to live. The barn has climate-controlled storage space that houses extra freezers, dry food and supplies, seasonal decorations, and storage. Two other sections of the barn are enclosed for outdoor storage of equipment and maintenance supplies. The well house has well water pressure tank storage, water softener system, and lawn irrigation controls. The property’s lot size is 3.5 acres, and there are approximately 1.5 acres of open field land that offers room for a new owner to expand the number of cottages on the property.

Market Competition and Expansion:

The company has one competitor in the area, a senior living facility that is owned, operated, and located on the same property as an assisted living center. The owners do not view their competitors as a significant threat, as there is more than enough demand for senior living facilities in the beautiful central Texas countryside to support more than one facility.

Reason for Selling:

Changing careers.

Additional Details:

  • The property is owned.
  • The owner is willing to train/assist the new owner.
  • This is not homebased business opportunity.
  • This is not a franchise resale opportunity

Relevant Links:

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Assisted Living & Memory Care Company - Central Texas - Type B FacilityThis Central Texas-based Assisted Living Facility with Memory Care certification is a sixteen-resident facility situated on seven acres in within easy reach of hospitals and Sr-living communities. In operation since 2012 the facility has Small Type B Certification and meets the requirements by the Health and Human Services Commission and the County Healthy Department and Fire Department. These requirements include an interior sprinkler system, a fire suppression system, and an expanded septic system. The facility is on a seven-acre lot and offers privacy and the feeling of “country living” which is appealing to most people. The large courtyard is also very appealing since it allows for plenty of room to go for walks and sit outdoors. Since the company has a higher staffing ratio (1:4), staff and residents are encouraged to go outside for walks, fresh air, and sunshine as much as they would like. This courtyard space has been very therapeutic for both the staff member and residents since it makes them feel like they aren’t confined to only staying indoors.The Owner, is the Administrator, receives a salary of $60,300 and is responsible for payroll, bookkeeping, and purchasing the food and supplies needed for the company. Other members of the management team include:A full-time director – who is responsible for human resources, scheduling, and coordinating resident care.A full-time medication aide – who orders and prepares medications for each resident. A full-time cook – who orders, stores and prepares meals for staff and residents.The owners wish to sell the company and real estate for $1,705.004The structure would be as follows: 1) the business is valued at 3.5 times the four-year average Adjusted EBITDA of $104,287 or $365,004 and 2) the real estate is valued at $1,340,000. This price includes 100% of the business and the fully renovated house that is currently operational with updated licenses. The owners have also done extensive work to prepare for an additional facility to be built. An architect has drawn plans, the permits and city zoning processes have been initiated and financial arrangements have been explored with local banks for this additional facility that would accommodate 16 additional residents. This business has licenses that would need to be transferred in a timely manner and would work with the new owners to make that transfer as smooth as possible.

Cash Flow $129,991
Revenue $775,893

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